RHB Investment ceased stabliling for Sunway REIT

KUALA LUMPUR: RHB Investment Bank Bhd, the stabilising manager for Sunway REIT has ceased its stabilising action for Sunway REIT as of August 6, 2010.

The company said on Monday, Aug 6, that during the period between July 8, 2010 until August 6, 2010 a total of 41,809,000 Sunway REIT units have undertaken stabilising action, purchased at a price range of RM0.875 to RM0.90.

“The last purchase was made on 26 July, 2010 at a price of RM 0.90. We have also exercised the over-allotment option for a total of 45,294,915 units on 6 August 2010,” it said.

RHB Investment said that the total purchase made under the price stabilising action of 41,809,000 units and the exercise of the over-allotment option for 45,294,915 units fully cover the 87,103,915 units that were over-allotted in the Initial Public Offering of Sunway REIT.

According to an announcement dated June 28, 2010, the stabilising manager may buy up to 87,103,915 units to undertake stabilising action.